3 Bits of Advice from Successful Small Business Owners

Are you ready to take your small business to the next level? Here are three pieces of advice from small business owners that could help you find success today:

1. Don’t Be Afraid
The first step is learning how to control your fear. As a small business owner, you will encounter new experiences, challenges and roadblocks on your path to success.

Letting fear get in the way of your goals will prevent you from moving forward.

Entrepreneur magazine recently questioned a number of small business owners, asking their advice for other professionals looking to forge their own paths. Dr. Mehdi Yazdanpanah, CEO and founder of NaugaNeedles, spoke of fear when asked what he would say to small business owners.

“I guess I would say don’t be afraid,” Yazdanpanah told Entrepreneur. “If they have a business idea but are afraid because of a lack of funding or experience and so on, I have to tell them don’t worry, these are not going to be an issue in this country.”

2. Lean on Your Team
The next step is to rely heavily on the team around you. Although training and supervising new hires may become tough as your business grows, trust your staff to handle their duties.

“The best resources a smaller business can utilize [for training] are its current employees,” Mark Newman, CEO of video recruiting platform HireVue, told the news source. “They can provide helpful tips and tricks that will help bring the new hire up to speed, and aren’t built into training programs.”

3. Know Your Finances
Finally, you must understand your finances in order to succeed. Evan Farmer, owner of Cuppa coffee shop, spoke to Michigan’s MLive media outlet about his experience running a small business. He stressed the importance of money management.

“That’s something we’ve had to learn over time,” Farmer told MLive. “My wife takes a lot of responsibility with the bookkeeping, fortunately, because I’m just not a numbers person. … I’m more creative.”

With a firm knowledge of finances, you’ll have an easier time growing your business and finding more success in the future.

What’s the best piece of business advice you’ve ever received? Tell us in the comments below.

Take your business further with the experts in small business lending

Apply in minutes

Would you rather talk to us?

Loans Subject to Lender Approval. Depending on the state where your business is located and other attributes of the loan, your business loan may be issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC. Your loan agreement will identify the loan issuer prior to your signing.